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Simcere Gains Board Approval for $495 Million Privatization Offer

publication date: Aug 28, 2013
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The Board of Simcere Pharma has officially accepted a $9.66 go-private offer from its Chairman/Founder Jinsheng Ren and related parties. The transaction price was raised marginally from the original offer of $9.56, made in March when the buyout was first announced. The deal values Simcere at $495 million. Shareholders must still vote on the proposal, but the acquiring syndicate already owns 78% of the shares, so the outcome is not in doubt. More details....

Stock Symbol: (NYSE: SCR)

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